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Spot rubber closed unchanged on Friday. RSS 4 was quoted steady at ₹160 per kg by traders and the Rubber Board. The grade finished flat at ₹155, according to dealers. The trend continued to remain mix
Buyer resistance saps rubber
March 01, 2021
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Spot rubber closed lower on Monday. The commodity opened steady but lost the initial strength on buyer resistance and profit booking at higher levels, following the sharp declines in overseas markets and domestic futures on MCX. The trend was partially mixed as ISNR20 managed to close unchanged on better demand.
RSS 4 weakened to ₹160 (160.50) per kg, according to traders and the Rubber Board. The grade slid to ₹156 (156.50) as reported by dealers.
In futures, the natural rubber contract for March delivery dropped to ₹162.50 (163.01) per kg on the Multi Commodity Exchange (MCX).
The most active natural rubber contract for May delivery was down 3.4%from previous day s settlement price to close at 15,902 Yuan (₹180,908.46) a tonne in day time trading on Shanghai Futures Exchange (ShFE).
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Traders expect sheet rubber to cross ₹170/kg
February 25, 2021
Spot rubber ended in a bullish note on Thursday. The market opened weak but recovered steadily tracking the sharp gains in overseas trendsetters, mainly Bangkok spot prices. RSS4 improved to ₹161 (160) per kg, according to traders and the Rubber Board. The grade firmed up to ₹157 (156) a kg as per dealers.
“We expect sheet rubber to cross ₹ 170 soon”, traders said. According to observers, certain tyre companies were buyers on the grade but they preferred to keep a low profile possibly to avoid a sharp rise in prices.
In futures, the natural rubber contract for February delivery closed higher at ₹164 (162) per kg on the Multi Commodity Exchange (MCX).